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Fees, Charges &Other Costs

When you know exactly what fees, charges and other costs you have to pay, you'll know exactly how much you can afford before you apply for your mortgage.

Tariff of Mortgage Charges

Below is a full list of our tariff of mortgage charges. Alternatively you can download a list of our Tariff of Mortgage Charges (114KB).

Product fees

With some of our mortgages, you may have to pay a product fee. You can choose to pay this fee upfront or when your mortgage funds are released, or as part of your monthly mortgage payment following the next annual review of your account.

Higher Lending Charge

Where a loan exceeds 75% of the purchase price or valuation (whichever is the lower) there is increased risk to us. To cover us against this risk, a Higher Lending Charge (HLC) is payable.

For more information on whether you have to pay a Higher Lending Charge, please read this section in our lending criteria.

Mortgage application processing fee

A mortgage application processing fee of £130 is payable on selected products. This fee is payable on application and is non-refundable. This fee is charged to cover the costs associated with processing a mortgage application.

Mortgage administration fees

You'll find details of specific mortgage application fees and early repayment charges on the mortgage information pages. You'll also receive a Key Facts Illustration document before your mortgage application and this document will be incorporated into your mortgage offer. This will also include any product specific application fees and early repayment charges, plus any other fees such as application processing fees and valuation fees. You can view and download an online Key Facts Illustration for a selected product using our online tool .

Take a look at the tables below for details of mortgage and arrears related fees, effective from 01/03/2015.

Mortgage related fees

Transfer of equity £160.00
Property letting £72.00
Copy mortgage statements £11.00
Breakdown of transaction £12.00
Certificate of interest/interest paid certificate £11.00
Subsequent redemption statements No charge
Unpaid direct debit £12.00
Bounced cheque £12.00
Provision of a lender's reference £27.00
Consent to second/subsequent charge £16.00
Certificate of title £15.00
Borrower title query £25.00
Copy document £30.00
Deeds production (inspection only) £38.00
Removal of mortgage from Scottish Land Registry £160.00
Payment of unpaid ground rent/service charges £45.00
Release of part security/approval of other legal agreements £65.00
Mortgage Fee (formerly Redemption Administration Fee) Please refer to your offer document

 

Important information

  • The mortgage interest rate on a borrower's mortgage will be increased by 1% where the borrower has agreed with the Society the terms of an authorised let. Where a borrower lets the property and the Society has not agreed to the letting, it will be treated as unauthorised, and the mortgage interest rate on the borrower's account will be increased by 2%.

Mortgage Product Related Fees

Mortgage Application Processing Fee £130.00
Product Switching Fee £90.00

Product fees and early repayment charges are detailed in the relevant product factsheet, the Key Facts Illustration document you should have received before your mortgage application was made, and in your mortgage offer. Your Key Facts Illustration and offer will also detail other fees payable such as mortgage fees and valuation fees. You can view and download an online Key Facts Illustration for a selected product using our online tool .

Arrears and Possession Related Fees

Arrears Management  fees

Fee When This Fee Is Payable Amount
Monthly Arrears Charge This may be charged if your mortgage account falls into arrears by two or more monthly payments, unless there is an arrangement in place to fully repay the arrears and it is being maintained £35 per month, per account
Third Party Field Agents appointment An appointment for a representative of ours who visits you at home to discuss your mortgage account, financial position and circumstances £80
Missed third party Field Agents appointment A cancelled or missed appointment with a field agent £60
Property Inspection Property inspection to identify occupancy and/or property condition £55
Address Confirmation This fee will be charged where it is necessary for us to trace your current whereabouts up to £100

 

Important information

**If your mortgage account falls into arrears by two or more monthly payments, a monthly arrears administration fee will be charged - unless there is an arrangement in place to fully repay the arrears and this arrangement is being maintained.

Litigation fees

If we need to ask our solicitors to recover any missed payments, litigate or start Court proceedings to obtain possession of your home, you will be liable for all their fees, costs and expenses. Listed below are the standard costs. You will also be liable for any additional non-standard or other third party costs. These will vary depending on circumstances. You will be liable for all costs and expenses we incur. As a guide only, for properties in England and Wales, typical litigation costs can be in the region of £800.

Fee Per Solicitor Instructed To: When This Fee Is Payable Amount       
Commence legal action Notify you in writing of our instructions to commence legal action £25
Issue proceedings Issue Court proceedings and apply for a hearing date £75
Preparation Prepare for the Court hearing date £60
Attend hearing Arrange attendance at the Court hearing and dealing with the outcome £25
Adjournment Adjourn the Court hearing date £60
Monitoring Monitor the payment terms of the Suspended Possession Order. Charged per each unbroken period of monitoring. £50
Enforcement Enforce the Possession Order and obtain an eviction date £25
Attendance for eviction Instructions to solicitors to arrange attendance on the day of eviction £60
Suspend Warrant Instructions to solicitors to suspend a warrant for possession:
  1. with agent in attendance
  2. without agent in attendance
  1. £60
  2. £85
Cancellation of Eviction Cancelling the eviction after 5pm on the day before the eviction £125

 

Possession fees

If we obtain possession of your home you will be liable for all our solicitors', agents' and other third parties' fees and all other associated costs and expenses. These include costs in connection with the management, maintenance and the sale of the property. We may also need to instuct agents to carry out investigative work. The list below sets out the standard costs. You will also be liable for any additional non-standard costs and charges. These will vary depending on circumstances. You will be liable for all costs and expenses we incur. As a guide only, typical sale in possession costs are in the region of £3000.

Fee When This Fee Is Payable Amount
Possession Administration fee Administrative costs for managing the sale of the property £300
Valuation cost Report from a RICS qualified surveyor of the estimated market value of the property and suggested marketing price. Two valuations will be obtained. £100 per valuation
Estate Agent/Auctioneer Commission Recommendation of the proposed selling price and marketing strategy, advertising and agreeing a sale either through private treaty or an auction sale 1.5% of sale price (minimum fee £1,000)
Solicitors Costs for a standard sale Solicitors conveyancing costs for checking the title to the property, preparing a contract, exchange and completion of the contract. £300
Withdrawal Fee For instructing the asset manager to take the property off the market £150 plus costs
Energy Performance Certificate Charge for the compilation of an Energy Performance Certificate required by a buyer before the property can be marketed £59
Property management costs Charged following possession of the property for changing locks, draining and switching off systems, and clearance of property in preparation for sale £400
Garden maintenance Garden maintenance whilst the property is marketed for sale during seasonal months: April – October £50 per visit
Accompanied visit To arrange an accompanied visit to remove remaining items from the property
  1. Weekday: half day/full day
  2. Weekday: half day/full day
  1. £80/120
  2. £100/£180
Auction Entry Fee Fee for entering a property into an auction sale £250
Solicitors costs - abortive sale Solicitors costs where an offer is withdrawn £50
Solicitors costs - distributing surplus proceeds Solicitors costs in establishing identity of the entitled person to whom the surplus should be paid, and distribution of surplus proceeds £50
Solicitors costs - distributing surplus proceeds Solicitors costs in establishing identity of the entitled person to whom the surplus should be paid, including tracing and distribution of surplus proceeds £125
Solicitors costs - payment of surplus proceeds into Court Solicitors costs to make payment of surplus proceeds into Court £250

The arrears, litigation and possession fees are for properties in England and Wales. Fees will vary for properties in Northern Ireland and Scotland. These fees quoted for arrears management, litigation and possession are subject to VAT. The fees will be added to your mortgage balance.

Further details of when fees apply can be found in our booklet 'How Your Mortgage Works', which is available in branch.

Some things to bear in mind

If we take action to enforce the terms of the mortgage, you will be responsible for payment of all fees (including legal fees, which will be added to your mortgage balance). The fees payable will depend upon the type of action we have to take.

For information about mortgage valuations, the different types of inspections and their associated costs, please read Mortgage valuations.

Your questions answered

Key Facts Illustration (KFI)

Our online tool will provide you with a comprehensive summary of any product available to you, including the amount of the monthly payments and any fees which you must pay.

 

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